Regions Financial (NYSE:RF) Price Target Raised to $28.00 at Wells Fargo & Company

Regions Financial (NYSE:RF) had its price objective upped by Wells Fargo & Company from $24.00 to $28.00 in a report issued on Friday,Benzinga reports. They currently have an equal weight rating on the bank’s stock.

Other equities research analysts have also recently issued research reports about the stock. Citigroup increased their price target on shares of Regions Financial from $25.00 to $26.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. Stephens raised Regions Financial from an “equal weight” rating to an “overweight” rating and set a $26.00 target price on the stock in a research note on Tuesday, October 29th. The Goldman Sachs Group upped their price target on Regions Financial from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Morgan Stanley boosted their target price on Regions Financial from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Argus upgraded Regions Financial from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a report on Thursday, October 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Regions Financial has a consensus rating of “Moderate Buy” and a consensus price target of $26.18.

Regions Financial Trading Up 0.3 %

Shares of NYSE:RF traded up $0.09 on Friday, reaching $26.36. 9,270,689 shares of the company traded hands, compared to its average volume of 7,954,415. Regions Financial has a 52 week low of $15.79 and a 52 week high of $26.73. The company has a current ratio of 0.84, a quick ratio of 0.83 and a debt-to-equity ratio of 0.35. The business’s 50-day simple moving average is $23.61 and its 200 day simple moving average is $21.58. The stock has a market capitalization of $23.96 billion, a P/E ratio of 14.89, a price-to-earnings-growth ratio of 2.73 and a beta of 1.16.

Regions Financial (NYSE:RF) last announced its quarterly earnings results on Friday, October 18th. The bank reported $0.49 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.04). The company had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.80 billion. Regions Financial had a return on equity of 12.60% and a net margin of 18.78%. Regions Financial’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the firm earned $0.49 earnings per share. As a group, equities analysts anticipate that Regions Financial will post 2.1 EPS for the current fiscal year.

Regions Financial Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 3.79%. The ex-dividend date is Monday, December 2nd. Regions Financial’s dividend payout ratio is presently 56.50%.

Institutional Trading of Regions Financial

A number of institutional investors and hedge funds have recently bought and sold shares of RF. State Street Corp raised its stake in shares of Regions Financial by 16.3% in the third quarter. State Street Corp now owns 55,485,987 shares of the bank’s stock worth $1,306,813,000 after purchasing an additional 7,791,399 shares during the last quarter. National Bank of Canada FI boosted its holdings in shares of Regions Financial by 575.8% during the 3rd quarter. National Bank of Canada FI now owns 1,705,273 shares of the bank’s stock valued at $39,784,000 after acquiring an additional 1,452,956 shares during the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of Regions Financial by 13.3% in the third quarter. Allspring Global Investments Holdings LLC now owns 8,625,734 shares of the bank’s stock worth $201,238,000 after acquiring an additional 1,014,706 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of Regions Financial by 7.4% during the second quarter. Dimensional Fund Advisors LP now owns 14,252,693 shares of the bank’s stock valued at $285,562,000 after purchasing an additional 979,597 shares during the last quarter. Finally, Swedbank AB bought a new position in Regions Financial during the first quarter valued at approximately $19,322,000. 79.39% of the stock is currently owned by institutional investors.

Regions Financial Company Profile

Regions Financial Corporation, a financial holding company, provides banking and bank-related services to individual and corporate customers. It operates through three segments: Corporate Bank, Consumer Bank, and Wealth Management. The Corporate Bank segment offers commercial banking services, such as commercial and industrial, commercial real estate, and investor real estate lending; equipment lease financing; deposit products; and securities underwriting and placement, loan syndication and placement, foreign exchange, derivatives, merger and acquisition, and other advisory services.